Archive - Feb 24, 2015 - Story
Forget The $1 Trillion Platinum Coin - Here's The $10 Trillion Stone Coin
Submitted by Tyler Durden on 02/24/2015 08:09 -0500If creating money is such a good idea, why not let all of us do so? Why not let everyone print as much as they need to get what they want? The answer is of course runaway inflation, as money that can be issued by everyone in unlimited quantities is instantly rendered worthless. The point we're making with the $10 trillion stone coin is that if money is a social contrivance, then it should be distributed to those creating goods and services, not those with influence over easily-bought politicos.
Frontrunning: February 24
Submitted by Tyler Durden on 02/24/2015 07:44 -0500- American Express
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- Yellen faces Senate grilling on Fed rate policy, transparency (Reuters)
- Big Banks Face Scrutiny Over Pricing of Metals (WSJ)
- Greece makes more concessions to euro zone, Germany sets vote (Reuters)
- Time for another executive order: Longer Lives Hit Companies With Pension Plans Hard (WSJ)
- The Syria invasion "false flag" approaches: Islamic State in Syria abducts at least 90 from Christian villages (Reuters)
- Why Lenders Love the $2.5 Million Home Loan (BBG)
- Reuters journalist Maria Golovnina dies in Pakistan aged 34 (Reuters)
- Qatar’s Ties to Militants Strain Alliance (WSJ)
With Greece Swept Under The Rug, Focus Turns To Janet Yellen's Congressional Testimony
Submitted by Tyler Durden on 02/24/2015 07:14 -0500- BOE
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There was an expectation that today's receipt by the Troika of the revised Greek "reform proposal" would send risk and the EUR higher, which is probably precisely why nothing has happened so far, and US equity futures are unchanged ahead of what the HFT algos' new attention focus is today, namely Yellen's semi-annual testimony to Congress. As a result, the only thing that has seen notable strength this morning is the USD, which has surged to 119.50 against the Yen, and briefly pushed the EURUSD under 1.1300. which also means that WTI has also gone nowhere overnight and remains under $50. One wonders just what OPEC "rumor" those long crude will leak today.
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